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Luxury & Affluent Consumer

Luxury sells scarcity and heritage rather than utility, which lets prices rise faster than costs. Demand concentrates in a narrow band of very wealthy customers and in a few travelling nationalities.

40 stocks

# Name Holding Trade Value Theme
Stocks
% of
Portfolio
Status
26
Ninety One (UK)
Ninety One (UK)
United Kingdom
$810M +$25.4M 2 2.36% Increased
27
TCP
TSG Consumer Partners
California
$801M -$95.8M 1 33.42% Reduced
28
BOI
Bank of Italy
Italy
$747M +$6.3M 1 23.18% Increased
29
Ameriprise
Ameriprise
Minnesota
$718M -$47.7M 16 0.22% Reduced
30
Nuveen
Nuveen
North Carolina
$708M +$10.6M 15 0.25% Increased
31
Charles Schwab
Charles Schwab
California
$670M -$1.68M 16 0.19% Reduced
32
Brown Advisory
Brown Advisory
Maryland
$667M +$129M 5 1.04% Increased
33
Select Equity Group
Select Equity Group
New York
$652M -$10M 2 2.43% Reduced
34
Franklin Resources
Franklin Resources
California
$630M +$6.96M 16 0.3% Increased
35
ClearBridge Investments
ClearBridge Investments
New York
$620M +$29.5M 2 0.56% Increased
36
Pictet Asset Management (Switzerland)
Pictet Asset Management (Switzerland)
Switzerland
$591M -$17M 9 0.7% Reduced
37
Capital Research Global Investors
Capital Research Global Investors
California
$590M -$113M 2 0.16% Reduced
38
Fundsmith Investment Services
Fundsmith Investment Services
Mauritius
$590M +$345K 2 8.6% Increased
39
Lazard Asset Management
Lazard Asset Management
New York
$580M +$13M 11 0.71% Increased
40
WCM Investment Management
WCM Investment Management
California
$578M -$25.7M 2 1.73% Reduced
41
Legal & General Group
Legal & General Group
United Kingdom
$553M +$3.78M 16 0.18% Increased
42
Alecta Tjanstepension Omsesidigt
Alecta Tjanstepension Omsesidigt
Sweden
$509M $0 1 3.67% Maintained
43
Citadel Advisors
Citadel Advisors
Florida
$496M +$143M 23 0.1% Increased
44
UBS AM
UBS AM
Illinois
$481M $0 13 0.23% Maintained
45
Deutsche Bank
Deutsche Bank
Germany
$479M +$22.9M 16 0.25% Increased
46
Arrowstreet Capital
Arrowstreet Capital
Massachusetts
$475M -$82.3M 9 0.58% Reduced
47
William Blair Investment Management
William Blair Investment Management
Illinois
$473M +$25.9M 6 1.52% Increased
48
Swiss National Bank
Swiss National Bank
Switzerland
$464M -$31.5M 13 0.32% Reduced
49
American Century Companies
American Century Companies
Missouri
$443M -$106M 15 0.33% Reduced
50
BNP Paribas Financial Markets
BNP Paribas Financial Markets
France
$438M +$98.7M 16 0.55% Increased